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Police Investigation in Moscow at Aker Kvaerner

Maritime Activity Reports, Inc.

March 30, 2007

Russian police came to the Aker Kvaerner Engineering & Technology representation office in Moscow to inquire about a complaint from a former Russian business partner regarding Aker Kvaerner Engineering & Technology's acquisition of 56 percent ownership in Astrakhan Korabel. The inquiry concerns Aker Kvaerner Engineering & Technology's acquisition of shares from the Finnish company RR Offshore Oy.

There were 14 employees working in the office when the police started investigation, of them 11 Russian citizens and three Norwegians.

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